Philippines Morning News For May 24

Philippines Morning News For May 24
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Philippines morning news

Mindanao martial law to be “as harsh” as that of Marcos — Duterte
Martial law in Mindanao would not be different from martial law during the time of the late dictator Ferdinand Marcos, President Duterte said before leaving Moscow for Manila.
– Philippine Daily Inquirer

Tax reform package reaches House plenary
The comprehensive tax reform package of the Duterte administration on Tuesday reached the plenary at the House of Representatives for deliberations.

‘Dutertenomics’ seen to boost demand for consumer goods
President Rodrigo Duterte’s P8 trillion infrastructure makeover is expected to create a multiplier effect on consumption, the head of Unilever’s Philippine operations said Tuesday.

ADB: Only 1 of 5 graduates lands job within a year
Only one out of five high school graduates in Metro Manila and Cebu City lands a job within a year of leaving school, a study by the Asian Development Bank said.
– The Manila Times

BPOs face tax perk removal
Trade and Industry Secretary Ramon M. Lopez said he would not support the position of the Information Technology and Business Process Association of the Philippines (IBPAP) to retain the fiscal incentives that would otherwise be removed under the first package of the government’s tax reform program.
– Philippine Daily Inquirer

ECOP: Companies to slash jobs if 4-day workweek pushes through
The Employers Confederation of the Philippines (ECOP) warns that many firms will be forced to reduce their work force if the proposed four-day workweek pushes through.

MRT 3 maintenance contractor no-show in Senate panel hearing
Marlo dela Cruz, who was found to be an incorporator of all three companies that won the contracts to maintain the trains of Metro Rail Transit 3 (MRT 3) on Edsa, was a no-show again at the resumption on Tuesday of the hearing conducted by the Senate committee on public services.
– Philippine Daily Inquirer

MRT-3 maintenance deal must be terminated – DoTr
The Department of Transportation said it wants to terminate the P3.8 billion contract of Busan Universal Rail Inc. (BURI) as maintenance provider of the Metro Rail Transit-3.
– The Manila Times

Gov’t debt’s share in GDP declines
The share of the government’s debt to the gross domestic product (GDP) further declined to 41.87 percent at the end of the first quarter as the economy sustained strong growth even as spending on public goods and services slowed.
– Philippine Daily Inquirer

New MMDA Chairman vows to eliminate corruption in the agency
Newly appointed Metro Manila Development Authority (MMDA) Chairman Danny Lim promised that he will clean the agency under his leadership.
– Eagle News (VDO)

DOF eyeing multi-scheme funding for flagship infra projects
Department of Finance (DOF) is looking at three sources of initial funds for the flagship infrastructure projects that President Rodrigo R. Duterte’s administration targeted for implementation.

Philippines bares LNG plan
The Philippines’ natural gas supply from the Malampaya field is projected to last until 2024, making the country an emerging liquefied natural gas (LNG) market in Asia, Department of Energy (DoE) Undersecretary Jesus Cristino Posadas said Tuesday.
– The Manila Times

Duterte asks Putin for ‘soft loan’ for arms
President Rodrigo Duterte on Tuesday, May 23, asked Russian President Vladimir Putin for a soft loan for purchase of firearms.
– Rappler

DOF: Duterte’s foreign trips, tax reforms crucial for infra projects
President Rodrigo Duterte’s trip to Russia is instrumental to government’s ambitious infrastructure plan. Finance Undersecretary Karl Chua said Duterte’s foreign trips complement the government’s tax reform agenda, which are both aimed at raising funds for infrastructure projects.

Russians won’t interfere in PHL affairs, Pinoy envoy says FEATURED
Russians do not want to impose their will on another country like the Philippines just as much as they don’t want others to meddle in their own affairs, Ambassador to Russia Carlos Sorreta told reporters in Moscow on Tuesday.
– Philippine News

A former Philippine gaming regulator is suing Wynn Macau on the basis of what he describes as the unlawful and “wrongful” disclosure of his personal data to an authority outside of Macau, which subsequently tarnished his professional integrity and damaged his career.
– Macau Daily Times

ERC to set system loss cap, monitoring in Q4
The Energy Regulatory Commission (ERC) will set a new cap and implementation mechanism for monitoring electricity distributors’ system loss by the fourth quarter of this year, the agency said on Tuesday.
– The Manila Times

5 regional airports removed from PPP
The Public-Private Partnership (PPP) program, already suffering from the perception its projects are being sidelined in favor of government loans overseas, received another blow yesterday after the Department of Transportation (DOTr) canceled plans to bid out contracts to modernize, operate and maintain five regional airports in Davao, Bacolod, Iloilo, Laguindingan and New Bohol.
– Philippine Daily Inquirer

PH-NZ partnership a ‘game changer’ – DTI
THE Philippines is optimistic its partnership with New Zealand (NZ) will be a game changer in its effort toward regulatory reform and in attracting more investment into the country to create more jobs for Filipinos.
– The Manila Times

Lawmakers question placing entire Mindanao under martial law
Placing the entire Mindanao under martial law is worrisome, considering that Maute attacks are confined only in Lanao Sur province, Magdalo party-list Rep. Gary Alejano said Wednesday.

Philippines’ banana industry suffers from unrest
The Philippines are one of the major suppliers of bananas in the world market. However, due to quality issues and the social unrest in the country, foreign importers are turning to other supplier countries.
– Fresh Plaza


Feature photo Brian Evans
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).


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Philippines morning news by AEC News Today is your one stop source for Philippines news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.




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